SK Hynix, Hon Hai camps add to offers for Toshiba chip unit

SK Hynix, Hon Hai camps add to offers for Toshiba chip unit

SK Hynix, Hon Hai camps add to offers for Toshiba chip unit

Toshiba Corp. has once again chose to hold off on making a decision on the buyer of its chip unit at a board meeting as negotiations with a Western Digital Corp. -led group have stalled, sources said Tuesday.

"The dramatic twist in the sale process, beset by legal wrangling and revised bids, comes just a day before Toshiba's latest deadline".

Bain and SK Hynix representatives were not immediately available for comment, while Toshiba declined to comment on details of the deal negotiations. The consortium and Toshiba aim to announce a deal on Wednesday or Thursday.

The enterprise SSD market will be led by Intel, Samsung and Western Digital/SanDisk targeting orders from internet giants such as Facebook, Amazon, Baidu, Alibaba and Google, the report said. The Japanese-language report makes no mention of Bain.

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On Saturday Patently Apple posted a follow-up report titled "The Bain, SK Hynix, Apple bid for Toshiba has been upped to $22 Billion as Decision Time Draws Nigh". The board had been seeking to decide on the preferred bidder on Wednesday, people involved in the talks previously told Reuters.

Western Digital is not the only company that's looking to buy Toshiba's chip business.

The 2 trillion yen ($18 billion) bid led by Western Digital Corp and USA private equity fund KKR & Co had been in the lead, sources had previously said. While Western Digital is very much in the driver's seat in talks, it has made several key concessions to secure a deal that Toshiba is willing to accept and that will keep the unit out of the hands of rival chip firms, sources have said. As the price is now reportedly set, all that remains to be settled is determining how big a stake Western Digital will gain in the unit.

On August 30th Patently Apple posted a report titled "Bain Capital along with Apple Offer Last-Ditch Bid for Toshiba's Memory Chip Business". Last week it said it was considering three competing offers including one led by Taiwan's Hon Hai (2317.TW), also known as Foxconn.

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